Loan Series definition
Examples of Loan Series in a sentence
Mortgage Loan Series @ Dear Sir/Madam: I am @ of ▇▇▇▇▇ Fargo Home Mortgage, Inc.
Any Refinancing Term Loans made on any Refinancing Effective Date shall be designated a series (a “Refinancing Term Loan Series”) of Refinancing Term Loans for all purposes of this Agreement; provided that any Refinancing Term Loans may, to the extent provided in the applicable Refinancing Term Loan Amendment, be designated as an increase in any previously established Refinancing Term Loan Series of Refinancing Term Loans made to the Borrower.
Each Loan (Series I) shall be payable as provided in the form of Loan and in this Agreement.
The Lenders shall deliver a response to the Administrative Agent with respect to any Term Loan Series Notice no later than 5 Business Days after receipt thereof and to the extent any Lender fails to so respond, such Lender will be deemed to have rejected such request.
To: (the “Depository”) As “Seller” under the Amended and Restated Purchase, Warranties and Servicing Agreement, dated as of _____, 200_, Whole Loan Series ________ (the “Agreement”), we hereby authorize and request you to establish an account, as a Custodial Account pursuant to Section 4.04 of the Agreement, to be designated as “____, in trust for the Purchaser, Owner of Whole Loan Series _____.” All deposits in the account shall be subject to withdrawal therefrom by order signed by the Seller.
To the extent amounts held in the Collection Account and paid in accordance with Section 2.05 are insufficient to pay the Collateral Custodian Termination Expenses, the Borrower (and to the extent the Borrower fails to so pay, the Lenders ratably across all Term Loan Series then outstanding) agree to pay the Collateral Custodian Termination Expenses within 10 Business Days of receipt of an invoice therefor.
Each Advance to be made hereunder shall be made among the Lenders of such Term Loan Series in accordance with their Pro Rata Share.
For the avoidance of doubt, any inaccurate representation that a Loan Asset is an Eligible Loan Asset hereunder shall not constitute an Event of Default if the aggregate Advances Outstanding under such Term Loan Series related to such Loan Asset do not exceed the Maximum Availability for such Term Loan Series assuming such Loan Asset was not included as an Eligible Loan Asset in the calculation of the Borrowing Base for such Term Loan Series.
To the extent all Obligations under any Term Loan Series are prepaid in full in accordance with the terms hereof, the Borrower may terminate such Term Loan Series simultaneously with the prepayment thereof.
In connection with an Extension, the Scheduled Maturity Date for the applicable Term Loan Series shall be automatically extended as provided above and in conformance with Section 11.01(b).